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Calculate the correct net income for cole enterprise

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Reference no: EM133109928

Question - Before month-end adjustments are made, the February 28 tabular summary of Cole's Enterprise contains revenue of $21,000 and expenses of $8,900. Adjustments are necessary for the following items:

?Depreciation for February is $1,200.

?Revenue recognized but not yet billed is $2,800.

?Accrued interest expense is $900.

?Revenue collected in advance that is now recognized is $2,500.

?Portion of prepaid insurance expired during February is $500.

Required - Calculate the correct net income for Cole's Enterprise for February.

Reference no: EM133109928

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